Ironwood Investment Counsel LLC decreased its position in U.S. Bancorp (NYSE:USB – Free Report) by 17.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,643 shares of the financial services provider’s stock after selling 39,693 shares during the quarter. U.S. Bancorp makes up 1.6% of Ironwood Investment Counsel LLC’s investment portfolio, making the stock its 12th largest position. Ironwood Investment Counsel LLC’s holdings in U.S. Bancorp were worth $8,338,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CGC Financial Services LLC bought a new position in U.S. Bancorp in the 4th quarter worth $25,000. BKM Wealth Management LLC purchased a new stake in U.S. Bancorp in the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new stake in U.S. Bancorp during the 4th quarter valued at approximately $27,000. Naples Money Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Finally, First Command Advisory Services Inc. bought a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $35,000. 77.60% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
USB has been the subject of several recent research reports. Oppenheimer lowered their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. UBS Group lowered their price objective on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.02.
View Our Latest Research Report on USB
U.S. Bancorp Trading Up 0.7 %
Shares of NYSE USB traded up $0.31 during midday trading on Friday, hitting $41.85. The company’s stock had a trading volume of 4,867,542 shares, compared to its average volume of 7,911,268. U.S. Bancorp has a 12-month low of $28.53 and a 12-month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The firm has a market cap of $65.31 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. The business’s 50 day moving average is $42.36 and its two-hundred day moving average is $40.79.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts expect that U.S. Bancorp will post 3.84 EPS for the current year.
U.S. Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.68%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
Further Reading
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